Iran warned Gulf Arab oil producers against boosting production to offset any potential drop in Tehrans crude exports in the event of an embargo affecting its oil sales,the latest salvo in the dispute between the West and the Islamic Republic over its nuclear programme.
The comments by Irans OPEC governor,on Sunday,came as Saudi Arabias oil minister was quoted the same day denying that his countrys earlier pledges to boost output as needed to meet global demand was linked to a potential siphoning of Iranian crude from the market due to sanctions.
World oil markets have been jolted over concerns that Iran may choke off the vital Strait of Hormuz in retaliation for sanctions hampering its ability to sell its oil. Saudi Arabia and other key Gulf Arab producers have recently said they are ready to provide stable and secure supplies of oil.
The US recently imposed sanctions targeting Irans central bank and,by extension,refiners ability to buy and pay for crude. The EU is also weighing an embargo on Iranian oil. Mohammad Ali Khatibi,Irans OPEC governor,was quoted by Sunday the Shargh newspaper as saying that attempts by Gulf nations to replace Irans output with their own would make them an accomplice in further events.